Technical analysis is a reliable assistant in cryptocurrency trading, which you cannot do without. There are thousands of indicators on the basis of which crypto traders develop their own strategies.
Most of them can be difficult for beginners to understand. But there are also effective strategies that have gained great popularity among novice traders due to their simplicity. In this article, we will talk about such strategies that will be easy for a beginner to understand, but at the same time they will help in trading.
How to use indicators
Technical indicators reflect real market performance and help identify key support/resistance, overbought/oversold levels, trend direction and more.
With the help of indicators, crypto traders can find the optimal market entry points and receive signals to buy and sell cryptocurrencies with a certain accuracy.
Based on indicators, traders create their own strategies. As a rule, indicators are used combined for more accurate signals so that the trader can see a more complex picture of what is happening in the market. This eliminates unnecessary noise and allows you to extract the necessary information faster and better.
As a rule, crypto exchange terminals contain pre-configured basic indicators that a trader can use in their trading, such as SMA (moving averages), MACD, Volume and others.
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